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You are conducting an analysis of your firm's collection float for an average 30-day month. Monthly remittances are organized in the chart below ( -
You are conducting an analysis of your firm's collection float for an average 30-day month. Monthly remittances are organized in the chart below ( - 10%). Due to collection font, it is on average taking days for the firm to convert remittances to enable funds. Monthly Remittances Collection Float Float $204,984 1 $717,443 2 $922,426 3 $204,984 7 $2,049,837 X X Average Daily Float (S) = Float - #Days in Month Average Days Float (#) = Float - Monthly Remittances ? 0 3.4 2.9 3.2 24.0
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